New york: U.S. gold futures reached an unprecedented high on Friday as concerns rose about whether U.S. import tariffs would be imposed on the most commonly traded sizes of gold bars.
According to Bahrain News Agency, the December U.S. gold futures increased by 0.9%, climbing to $3,483.70 per ounce after peaking at a record $3,534.10 earlier in the session. This surge occurred following a report by the Financial Times that highlighted the potential for tariffs, which has fueled market uncertainty and investor actions.
Although spot gold prices showed a slight decrease, they are still positioned to close the week with gains. In related commodities, spot silver saw an increase of 0.2%, reaching $38.25 per ounce. Conversely, platinum experienced a decline of 0.6%, settling at $1,325.46 per ounce, and palladium dropped by 2.4%, falling to $1,123.50 per ounce.